Market Sentiment in Transition

MARKET ANALYSIS

GBPUSD

GBP/USD Intraday: under pressure.

Pivot:

1.3300

Our preference:

Short positions below 1.3300 with targets at 1.3240 & 1.3215 in extension.

Alternative scenario:

Above 1.3300 look for further upside with 1.3320 & 1.3345 as targets.

Comment:

The RSI advocates for further downside.

USDJPY

USD/JPY Intraday: further advance.

Pivot:

159.30

Our preference:

Long positions above 159.30 with targets at 160.00 & 160.40 in extension.

Alternative scenario:

Below 159.30 look for further downside with 158.95 & 158.55 as targets.

Comment:

The RSI is bullish and calls for further upside.

EURUSD

EUR/USD Intraday: the downside prevails.

Pivot:

1.1495

Our preference:

Short positions below 1.1495 with targets at 1.1440 & 1.1410 in extension.

Alternative scenario:

Above 1.1495 look for further upside with 1.1525 & 1.1555 as targets.

Comment:

The RSI is bearish and calls for further decline.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (K6)‎ Intraday: bullish bias above 95.60.

Pivot:

95.60

Our preference:

Long positions above 95.60 with targets at 99.80 & 101.10 in extension.

Alternative scenario:

Below 95.60 look for further downside with 94.20 & 93.20 as targets.

Comment:

The RSI is mixed with a bullish bias.

GOLD

Gold Intraday: 4740 in sight.

Pivot:

4895

Our preference:

Short positions below 4895 with targets at 4775 & 4740 in extension.

Alternative scenario:

Above 4895 look for further upside with 4940 & 4975 as targets.

Comment:

The RSI shows downside momentum.

DOW JONES

Dow Jones (CME)‎ (M6)‎ Intraday: 45970 in sight.

Pivot:

47000

Our preference:

Short positions below 47000 with targets at 46300 & 45970 in extension.

Alternative scenario:

Above 47000 look for further upside with 47220 & 47760 as targets.

Comment:

The RSI has broken down its 30 level.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ Intraday: the downside prevails.

Pivot:

24800

Our preference:

Short positions below 24800 with targets at 24540 & 24400 in extension.

Alternative scenario:

Above 24800 look for further upside with 25000 & 25210 as targets.

Comment:

The RSI shows downside momentum.

S&P 500

S&P 500 (CME)‎ (M6)‎ Intraday: towards 6575.

Pivot:

6736

Our preference:

Short positions below 6736 with targets at 6630 & 6575 in extension.

Alternative scenario:

Above 6736 look for further upside with 6764 & 6815 as targets.

Comment:

The RSI has broken down its 30 level.